Does making larger payments outside of daily sales get you closer to another loan faster?

[Austinjones86]

The title of this thread has been updated from: "Hey Square Capital Team!"

Good afternoon everyone, I have a question for all if you care to chime in! I've been very fortunate to have received 3 loans from the Square team, as it has catapulted me into an ever busy hairstylist in a very competitive area, providing for new equipment/supplies/and advertising!

Am currently 60% through my third loan, made a [Personal Information Redacted] payment to get me from 50-60%. Question for the team and forum is, does making larger payments outside of daily sales, get you closer to another loan opportunity faster? Understand that there isn't yet a guarantee to current square users of another loan, but i thought I would share my thoughts here with everyone else!

And just like everyone here, I've been very happy with your services and financial opportunities you have provided over the last few years! 

[GlassJudy]

Click here to go to Square's Capital Loan FAQ page which addesses your issue: Will I be eligible for a new loan if I pay off my current loan through Square Capital early?

There is no guarantee that you will be offered another loan, even if you pay off your current loan early, and if you are offered another loan, it can take up to two weeks from when you paid off the previous loan to get the offer.